The 3 Most Common Expenses To Be Aware Of As A Digital Nomad

It is the dream of many people to travel the world while also getting paid at the same time. Since remote work is normal and many people are still working from home, the possibility of traveling while working is a real possibility for a lot of people. These people are called digital nomad and they are taking advantage of living in this digital age. Although it is a very exciting lifestyle, it is also challenging. 

For instance, dating when living as a digital nomad is not easy since your life is not very stable. Travel can also get quite exhausting and when accidents happen far from home it can be frightening. There are also a lot of costs associated with living as a digital nomad. To make sure that you are able to get the most out of the experience you have to understand those costs. In this article, we will go over what some of the most common expenses are so you are aware and can make a solid plan. 

1 – Insurance

It is very important that you have good travelers insurance when you hit the road. In many cases, it is going to be a requirement to be able to qualify for a visa to travel to certain countries. Even if your destination doesn’t require you to have it, you should anyway. 

Staying healthy should be the top priority of every digital nomad and it needs to be worked on. Having insurance will give you a lot of peace of mind in case of an accident and also be able to stay proactive with your health. 

When you are in a foreign environment, you are likely to face a lot of illnesses since you are exposed to new ones that you have never developed immunity to. It could be a foodborne illness, or some kind of virus. Or another disease that will get you sick out of the blue. In these cases, you will want to make sure that you’re able to visit a good doctor thanks to having the right insurance. 

There is also the high risk of getting into an accident. Since you will be on the move far more often than you normally would be in ordinary circumstances. Then there is the possibility of unrest in parts of the developing world or even a natural disaster. Some insurance policies will provide emergency evacuation in these circumstances. 

All of these insurance possibilities will come with a cost and you’ll need to calculate them into your living and travel expenses. 

2 – Housing

The biggest expense you will face will be to house yourself. The costs vary considerably between locations and even comfort levels. Although you can spend less on luxury accommodations in developing countries. It will still be a major expense depending on how much money you are making. 

Take the time to research what types of accommodations are available at your next destination. Make a list of what you want to have in your housing. For instance, you may want to be near the city center or in an out-of-the-way area. This is going to affect the cost of the property. 

How comfortable you want to be will also have a bearing. In the name of savings, some people will forgo some creature comforts and spend the extra money on eating out and on a coworking space. 

It’s important to know your options and what they cost before you arrive so that you can make a budget and not have to worry about running out of money. 

3 – Transportation

Getting around is the second biggest expense after our housing. Since you are on the move quite a bit you will have an ongoing expense in the form of train tickets, or flights. Usually getting around by bus within the country is not very expensive but other options are. You’ll usually need to spend more traveling between countries. 

To minimize the expense, try to travel short distances by planning your destinations wisely. The benefit of some parts of the world is that many different countries are located closely together so getting around is inexpensive. In some cases, you can actually take a bus to another country. 

Or, you can wait for some sales to happen for flights and then pick the best deal and go wherever the flight is headed. The key is to be flexible when you are a digital nomad and not have too many rigid expectations.